Wed Sep 25 07:22:57 UTC 2024: ## First Horizon Downgraded to Neutral by Wedbush, Analyst Sentiment Mixed

**MEMPHIS, TN – September 25, 2024** – Wedbush Securities has downgraded First Horizon (FHN) from an “Outperform” rating to “Neutral,” citing concerns about the company’s future prospects. The firm lowered its price target to $17.00 from $20.00, reflecting their less optimistic outlook.

This move comes amidst a mixed bag of analyst opinions on the financial services provider. While some remain bullish, with Royal Bank of Canada and Barclays raising their target prices, others are more cautious. Robert W. Baird reiterated a “Neutral” rating with a $16.00 target price, while Evercore ISI reduced their price target to $18.50, albeit maintaining an “Outperform” rating.

Despite the downgrade, the overall consensus rating remains “Moderate Buy,” with six analysts recommending a “Hold” and eight recommending a “Buy,” based on data from MarketBeat. The consensus target price sits at $17.38.

First Horizon reported mixed earnings results for the second quarter, missing analysts’ expectations for earnings per share. The company generated $1.28 billion in revenue, exceeding estimates. However, the company’s net margin and return on equity declined compared to the previous year.

The company recently declared a quarterly dividend of $0.15, representing a 3.92% annualized yield.

Institutional investors hold a significant portion of First Horizon’s stock, owning 80.28% of the company’s shares.

**About First Horizon:**

First Horizon Corporation operates as the bank holding company for First Horizon Bank, providing a range of financial services to consumers, businesses, financial institutions, and governments through its Regional and Specialty Banking segments.

**Note:** This news article is based on the provided text and does not reflect the full financial landscape of First Horizon or the overall market conditions. Investors should conduct thorough research and consult with financial professionals before making any investment decisions.

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